[rjvora_2000]

Originally Posted by Raccoon

...She told me how else can we be certain that the vehicle even exists? Lol!

I really fail to understand this reason.

Under TP they have to pay for third party damages and not for the vehicle. Then what do they check in the vehicle? If vehicle do not exists then they will never have to pay for the claim Right?

This is a very simple logic which is not understood by them. Lack of insurance knowledge is the only reason for this problem I think.

[Raccoon]

Originally Posted by f1head

My agent got the policy done for my car, I never had to take the car anywhere.

Well, can the agent act as the surveyor/inspector of the vehicle? Maybe that is what happened.

Originally Posted by rjvora_2000

I really fail to understand this reason.

Under TP they have to pay for third party damages and not for the vehicle. Then what do they check in the vehicle? If vehicle do not exists then they will never have to pay for the claim Right?

This is a very simple logic which is not understood by them. Lack of insurance knowledge is the only reason for this problem I think.

Maybe it is lack of knowledge, but if they insist, what can be done?

[rjvora_2000]

Originally Posted by Raccoon

Well, can the agent act as the surveyor/inspector of the vehicle? Maybe that is what happened.

Yes agents are also allowed to work as a surveyor for their own business. Only if agent has a good business with the insurance company then only insurance company will approve this to an agent.

Originally Posted by Raccoon

Maybe it is lack of knowledge, but if they insist, what can be done?

Frankly speaking, I have lost all my hopes for government insurance companies and there services. So I think you will have to do it as they say.

The person sitting on the chair makes his own rules and unfortunate part is we have to respect them for his chair and not for the knowledge.

[kites]

Hi rjvora,

I have precolsed my car loan and have the NOC with me now, my questions to you are:
1) Do I need to get the hypothecation cancelled from my insurance company first
2) Is it fine if I directly go to RTO and get the RC book hypothecation cancelled before the insurance hypothecation .

[rjvora_2000]

Originally Posted by kites

Hi rjvora,

I have precolsed my car loan and have the NOC with me now, my questions to you are:
1) Do I need to get the hypothecation cancelled from my insurance company first
2) Is it fine if I directly go to RTO and get the RC book hypothecation cancelled before the insurance hypothecation .

First you need to go to RTO and let them endorsed to RC book first then submit the copy of endorsed RC book to insurance company along with the letter and your job will be done.

[shishir_bn]

Can anyone help me with any online site where I can buy the third party insurance. The previous one will expire on feb18/2010.Bajaj allianz does that through IVR system but from one week the system is down.

[rjvora_2000]

Originally Posted by shishir_bn

Can anyone help me with any online site where I can buy the third party insurance. The previous one will expire on feb18/2010.Bajaj allianz does that through IVR system but from one week the system is down.

Who is the existing insurer? Pay them via cheque you still have lot of time in your hand.

[kites]

Originally Posted by rjvora_2000

First you need to go to RTO and let them endorsed to RC book first then submit the copy of endorsed RC book to insurance company along with the letter and your job will be done.

Thanks rjvora, I will do as you have suggested. I am planning to go to RTO myself and get it done avoiding the agents.
Will post my expieriences with the entire process soon.

[shishir_bn]

Originally Posted by rjvora_2000

Who is the existing insurer? Pay them via cheque you still have lot of time in your hand.

current one is Bajaj allianz itself. Thanks for the info.

[rjvora_2000]

Originally Posted by shishir_bn

current one is Bajaj allianz itself. Thanks for the info.

With Bajaj your job is much simpler my friend, Go to any office near to your place and pay premium there in cash and you will get the policy on the spot. (15 to 20 Min. on higher side.)

[pats]

Dear RJVora,

I have finalised the car sale to a new owner and i wish to retain the NCB of 35% which i can transfer to my new car. On inquiring with reliance insurance(the current insurer) i need to surrender to them the original policy along with copies of form 29 and 30 basis which they will issue the ncb certificate. The insurance policy is valid till 24th april whereas the car sale would happen in first week of Feb.

The question is whether it is alright to provide a photocopy of the policy to the new owner and ask him to transfer the insurance to his name for the balance period. Is there any seperate obligation on my part to ensure the the insurance is transferred in his name?

While handing over the car what are the other precautions, if any to be ensured from an insurance perspective?

[sdp1975]

Have a look here :

http://www.team-bhp.com/forum/owning...car-india.html

Post 4 in particular.

Once the car is sold ( by following the correct transfer processes in filling out forms 29/30 and informing the RTOs), insurance is the liability of the new owner. So make sure that the transfer process is done right.

[hrmanju1]

I am planning a new car. Dealer(Honda) is offering me Insurance at 27K. The catch is

1) He will give me 15K worth of accssories if buy insurance from him
else
2) He will give me 10K worth of accesories only.

I checked with IFFCO Tokio website and the insurance is coming to 22K. So the dealer says the price difference is passed down as Accessory discount.

My question
a) If i buy Insurance from the dealer @ 27K and plan is to change next year to another dealer, will the initial premium be used to calculate the discount or the IDV of the car?
b) Am i better off to take the insurance outside @ 22K and forego the highly expensive free accesories? So that next year the discount on insurance premium will be based on 22K?

Please let me know. (I totally agree Honda prices are expensive with regards to Accessories. 5K extra could come to 2K outside. Just the headache of original accessories and Honda Assure program of inhouse inusrance (which is same as IFFCO Tokio)

thanks

[rjvora_2000]

Originally Posted by pats

Dear RJVora,

I have finalised the car sale to a new owner and i wish to retain the NCB of 35% which i can transfer to my new car. On inquiring with reliance insurance(the current insurer) i need to surrender to them the original policy along with copies of form 29 and 30 basis which they will issue the ncb certificate. The insurance policy is valid till 24th april whereas the car sale would happen in first week of Feb.

The question is whether it is alright to provide a photocopy of the policy to the new owner and ask him to transfer the insurance to his name for the balance period. Is there any seperate obligation on my part to ensure the the insurance is transferred in his name?

While handing over the car what are the other precautions, if any to be ensured from an insurance perspective?

There are basically two different way's to do it.

1. where in you sell your car along with the insurance. - You need to give the original insurance policy you give it to the new owner of the car and you don't get any refund of balance premium.

2. where in you sell your car without insurance. - You need to submit the original insurance policy to insurance company were in you will get the refund of your premium.

In both the above case you will get the NCB letter to you from insurance company as NCB is non transferable.

Originally Posted by hrmanju1

I am planning a new car. Dealer(Honda) is offering me Insurance at 27K. The catch is

1) He will give me 15K worth of accssories if buy insurance from him
else
2) He will give me 10K worth of accesories only.

I checked with IFFCO Tokio website and the insurance is coming to 22K. So the dealer says the price difference is passed down as Accessory discount.

My question
a) If i buy Insurance from the dealer @ 27K and plan is to change next year to another dealer, will the initial premium be used to calculate the discount or the IDV of the car?
b) Am i better off to take the insurance outside @ 22K and forego the highly expensive free accesories? So that next year the discount on insurance premium will be based on 22K?

Please let me know. (I totally agree Honda prices are expensive with regards to Accessories. 5K extra could come to 2K outside. Just the headache of original accessories and Honda Assure program of inhouse inusrance (which is same as IFFCO Tokio)

thanks

No how much you paid last year is not much important but IDV is very important.

[hrmanju1]

Originally Posted by rjvora_2000

No how much you paid last year is not much important but IDV is very important.

Thanks. I am leaning towards insurance from Honda Assure only then.
Honda Assure has

a) Iffco Tokio
b) Bajaj Allianz

Planning to go with either of them.

Thanks a lot for your immediate response.